William Malcolm

Czech Used Car Prices Soaring To Record Highs

Prices of new used cars in the Czech Republic have approached the prices of new cars. The reason is the long waiting times for new cars due to the lack of some parts, especially chips. Demonstration and six-month cars have risen in price by up to ten percent this year. 

Due to the lack of new cars, according to sales director Louda Auto + Robert Imling, the average sales time has accelerated by 26 percent and is the fastest in history. According to him, the main factor is the lack of new cars and long waiting times for them, which often exceed half a year. The Škoda Karoq heats up the least in the bazaars, waiting for the buyer for an average of 31 days, Škoda Scala for 34 days, and Kodiaq 35 days.

“The market has the largest excess demand for new cars of the fresh model lines. Škoda demonstration cars, for example, half a year old, are now commonly sold at list prices for new cars, while until recently such a car would cost about ten percent less,” added Imling.

Another reason for the rapid turnaround of used cars is the postponed consumption from last year when many motorists hesitated to change. The demand is increased by the great interest in Czech used cars from abroad, where every fourth new car from domestic used cars is disappearing.

For new cars in stock and new cars, the smallest differences in prices are according to the Autonaklik.cz website for the Toyota brand, where prices differ on average by only 15,000 crowns. “Of the specific models, the difference is the smallest in the Kia Ceed, which sells new ones for an average of CZK 390,000 and new ones for only CZK 1,500 less. Škoda cars, in particular, disappear the fastest from the offer,” said Ondřej Žilka Autonaklik.cz, which offers over 30,000 warehouse cars from hundreds of Czech dealers.

According to Petr Vaněček, operations director of the AAA Auto network, the purchase of a new car is still more advantageous than a new one. “Savings usually increase with the purchase price of a new car, premium cars lose the most price. On the other hand, it must be said that the prices of all cars have been rising steadily since the beginning of the pandemic and this trend will continue according to our analyzes,” he told CTK.

According to Cebia, the average price of used cars on the Czech market in the first half of the year rose by almost 16 percent year on year to CZK 245,000. While last year sellers sometimes provided significant discounts, this year they are still becoming more expensive. In the second quarter, the price rose by five percent compared to the beginning of the year.